Europe FX handover - 3rd April 2019
Fawad Razaqzada April 3, 2019 12:46 PM
- The Aussie and euro have been among the strongest and yen the weakest so far in the day. With the US dollar also on the backfoot, both gold and silver attempted a recovery.
- Services PMIs from China (54.4), Spain (56.8) and Italy (53.1) all better than expected. Eurozone, German and French final services PMIs were all revised up. But the Brexit-hit services sector of UK slumped below the boom/bust level of 50.0 to 48.9 from 51.3 last. GBP/USD’s downside was limited amid hopes for a longer delay and an even softer exit from the EU following Theresa May’s decision for cross party discussions on trying to solve the Brexit stalemate.
- Risk appetite continued to rise in Europe after stock index futures gained ground overnight on the back of stronger Chinese data and hopes that the US and China were closing in on a trade deal pushed stocks higher on Wednesday following a report from the Financial Times that the two sides had smoothed out most outstanding issues.
Futures, Options on Futures, Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Losses can exceed your deposits. Increasing leverage increases risk. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Contracts for Difference (CFDs) are not available for US residents. Before deciding to trade forex and commodity futures, you should carefully consider your financial objectives, level of experience and risk appetite. Any opinions, news, research, analyses, prices or other information contained herein is intended as general information about the subject matter covered and is provided with the understanding that we do not provide any investment, legal, or tax advice. You should consult with appropriate counsel or other advisors on all investment, legal, or tax matters. References to Forex.com or GAIN Capital refer to GAIN Capital Holdings Inc. and its subsidiaries. Please read Characteristics and Risks of Standardized Options.